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Management financial crisis situation at the moldavian enterprise

Author: Mihalachi Ruslan
Degree:doctor of economics
Speciality: 08.00.10 - Finance; Monetary Economics; Credit
Scientific adviser: Natalia Băncilă
doctor habilitat, associate professor (docent), Academy of Economic Studies of Moldova
Institution: Moldova State University
Scientific council: D 32-08.00.10
Academy of Economic Studies of Moldova


The thesis was presented on the 29 December, 2012
Approved by NCAA on the 14 June, 2013


Adobe PDF document0.52 Mb / in romanian


crisis, risk, cyclicity, crisis management, diagnosis, prediction, discriminant analysis, benchmarking, economic growth


Dissertation structure: the introduction, three chapters, general conclusions and recommendations, the bibliography (177 sources), 14 annexes and is presented on 136 pages of main text, including 23 figures and 24 tables. The obtained results were published in 14 scientific papers.

Sphere of the thesis is represented by the study of crisis management at the enterprise, its methods of diagnosis, prediction and avoidance of these situations in moldavian enterprises.

Goals and objectives of the thesis are methodological development of crisis management at the enterprise by developing new models of diagnosis and prediction of the state of financial crisis; formulation of proposals and recommendations for avoiding and / or weakening of crisis situations at companies from the Republic of Moldova.

Scientific novelty and originality are highlighted by deepening the concept of crisis management, based on current achievements of modern management theories, reflecting the problems and causes which generate crisis situations at companies from the Republic of Moldova; developing a model of diagnostic/prediction the state of insolvency for companies from Republic of Moldova; developing a complex model of diagnostic / prediction the crisis at the enterprise, establishing the main pillars on which should be based business activity in Moldova.

Theoretical significance and applied value is determined by conceptual and methodological development of crisis management at the enterprise, as well as by recommendations and practical proposals in this direction. The use of which would allow: in time to anticipate and avoid crisis at the company, weak negative effects of it, would allow managers to build appropriate business development strategy, taking in account common flows in business activity in Moldova, would allow to organize a crisis process correctly within the general management of the enterprise, in order not only to anticipate crises but also to overcome them successfully, finally, would help the overall development of company and it's efficiency , relying on so-called "pillars" specified in paper.

Important scientific problem оf the investigation is based on the difficulty of assessing the business crisis, that, through model developed in this thesis, it has shown that the crises at the moldavian enterprises can be diagnosed and predicted wuth high accurasy in their early stage.

Introduction of scientific results: models and some recommendations developed in given work, have been accepted for use at the several enterprises of Republic Moldova that confirms by adoption deeds of results of the research enclosed to the dissertation.